Emma Baddaley, Strategic Relationship Director, Estatesearch
I’m of the generation where essentially half my life has been spent without technology and the rest learning how to use the latest gadget! While tech for tech’s sake is worthless, in the legal industry technology designed to improve efficiencies, save time and mitigate risk can only be welcomed and embraced.
One of the key advantages of software specifically developed to help private client professionals is where it can automate repetitive processes and therefore save time.
Time Saving Estate Administration Technology
For example: a typical new probate or estate administration matter requiring an Asset Search, Will Search and Trustee Notices, can all be ordered via our Estatesearch secure portal in under five minutes. Previously, clients would have needed to visit several providers, often supplying the same details, taking five-ten minutes per search (20-30 minutes in total).
Time saved means lawyers can focus more on the important and sensitive aspects of their client work including face-to-face meetings.
Paige Gouldthorpe, Deputy Head & Court of Protection Specialist, Wills, Trusts & Probate Department and Head of Lowestoft, Fosters Solicitors gave her views: “In reality the last thing a lawyer wants to think about is technology! We are purely interested in achieving the best result on behalf of our clients and if tech can help us achieve this in the quickest time, then it is useful. We simply don’t have time to research precisely the tech works but need to be aware of the resources and what’s available to manage client expectations. We also need to trust in the tech companies to provide good solutions for the industry. Technology works best when we don’t even know it is there.
“A good example is court case where I was recently awarded an interim order to understand the extent of P’s estate. I uploaded the basic details to Estatesearch’s secure portal which automates the process of contacting over 400 financial institutions to confirm if accounts are held. I then needed to report back to the court with details of the debt and credit within the estate. For me to contact so many financial institutions would have been time consuming and deadlines with court cases are often tight. However, within two days of submitting the information to the Estatesearch portal, I received two positive responses so was able to send letters to make further enquiries to those institutions to establish the assets held. Estatesearch’s automated process ensures the leg work is done for you, and so the technology used supports the best outcome for my client. This is technology at its best.”
Risk Mitigation
In addition to saving time and improving efficiencies, estate administration technology can help mitigate risk. Software which provides an audit trail and evidence that best practice has been followed protects both the client and the practitioner. With our Financial Asset Search if a financial institution misses a notification, solicitors have proof and the tools to address the issue through the automated audit trail and reporting we provide. Without this safeguarding the journey of recourse is much more challenging.
User Friendly
To work well and be widely adopted, technology needs to be intuitive and user friendly. Where it can lend itself to be inserted into processes to improve efficiencies and mitigate risk and even be the catalyst to review, upgrade and modernise processes within a law firm, as a tech supplier, we know we have done a good job.
Futureproofing
Technology also plays a vital role in futureproofing our industry. Millennials and Gen Z are used to technology, they have grown up with it. Therefore, from both a client and an employee perspective, these generations of people expect technology to be part of the process; with less written administration and more speed than previous generations have been used to.
There has been a significant evolution of technology implementation and use in the conveyancing space over the past 15 years. During the past five years, technology has also begun to be embraced in earnest within the private client sector too. Wills and probate professionals are now seeing some of the benefits that estate administration technology can offer for today’s clients and younger practitioners coming through too. The only risk for firms not embracing tech, is that they will be left behind.
At Estatesearch we develop all our software and solutions in consultation with lawyers to solve specific challenges and meet their needs. Our user-friendly, secure, online portal enables automated Will Searches, pre-distribution checks, the placement of Trustee Notices and Asset and Liability Searches all to be completed in one place. At the same time as creating efficiencies, we save private client firms time, help them mitigate risk and provide demonstrable due diligence via our report audit trails. Our tech is supported by our diligent customer success team to guide and support private client professionals whatever their challenge.
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This article was written as part of our sponsorship of Women in Wills.
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